(MENAFN) Egypt's trade deficit has deteriorated 26 percent to USD3.5 billion in last August down from USD4.7 billion in last year's corresponding month, according to the latest reports.
The trade deficit declined in spite a decrease in Egyptian exports driven by a higher slump in imports, and of course, the plunge in exports was due to a global decline in commodities prices.
Meanwhile, imports' value plunged by 22.5 percent to USD5.2 billion, from USD6.7 billion throughout the same month in the previous year, driven by the deterioration in the value of some products.
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